“JWM: You’re a finance guy, right? Do you find it interesting that they no longer report M3? M1 and M2 are still there, but good ‘ol M3 isn’t. Not trying to put on my paranoid conspiracist hat or anything, but…”
Technically, I’m not Finance but rather accounting (CPA), but you learn most of the same fundamentals in TVM. I did handle corporate finance stuff like NPV and ROI for an automotive component supplier (Borg Warner) at one of their plants in Illinois for a couple of years though. a lot of the investment principles are the same such as hurdle rates and payback. Instead of houses it was two ton presses and tooling and die equipment.
Yes, it’s not surprising that the Fed decided not to report that anymore. However, there are still plenty of graphs depricting what happened relative to M0, M1, M2. Mish Shedlock was where I first read about that. What’s interesting is when you correlate housing prices in SoCal to the growth in M3…take a wild guess at how well they correlate.
I dont know enough about SFAS 140 yet. There is an article by Tanta at CR that about that I will read later on.
